Finding accurate data on finance salaries in New Hampshire can be challenging.
This article will provide a detailed analysis of compensation across finance roles in New Hampshire, benchmarked against regional and national salary data.
You'll get a breakdown of CFO, financial analyst, controller, and other key finance positions. We'll also explore factors impacting pay such as cost of living, supply/demand dynamics, and software tools.With these insights, you'll be equipped to evaluate job offers and career paths in New Hampshire's finance sector.
Introduction to Finance Salaries in the New Hampshire Landscape
The finance industry is a vital part of New Hampshire's economy, providing critical services that enable businesses and organizations to operate effectively. As such, understanding current salary trends for finance professionals can offer useful insights.
This article will analyze New Hampshire finance salaries compared to the broader New England region. We'll examine how compensation for key roles like finance managers, directors, and analysts has shifted based on economic factors.
Key details covered include:
Deciphering the Finance Salary Spectrum in New Hampshire
Finance salaries in New Hampshire tend to be competitive with the national average, though slightly lower than some neighboring states. According to the Bureau of Labor Statistics, the average annual salary for a financial manager in New Hampshire is $148,250 compared to the national average of $151,510.
Salaries can vary significantly depending on specific roles and experience levels. For example:
- Entry-level financial analysts earn approximately $66,000 on average.
- Finance managers with 5-10 years of experience earn around $115,000 typically.
- CFOs and directors often make $200,000+ per year.
New Hampshire's finance salaries offer moderate pay equity relative to cost of living. The state does not have major metropolitan hubs seeing the salary inflation of areas like Boston.
New Hampshire and New England: A Comparative Compensation Analysis
While New Hampshire's finance salaries are reasonably aligned with national averages, neighboring states often pay higher wages - especially for experienced managers and directors.
For instance, the average salary for a Finance Director in New Hampshire is $153,000. Yet in Massachusetts, the same role earns $173,000 typically. This trend holds true across analytical and managerial finance positions.
The disparity highlights New England's status as a high-paying region for financial services talent. Larger markets like Boston and thriving sectors such as biotech and healthcare push salaries upward.
Economic Indicators and Finance Salary Projections
Over the past 5 years, New Hampshire has seen moderate but steady salary growth for finance professionals. Pay scales have increased roughly 8-12% on average across key roles.
With low unemployment and increased hiring demand in the state, this trend is likely to continue. Tight labor markets and talent competition will place upward pressure on wages.
However, economic shifts like a potential recession could dampen salary trajectory in the years ahead. Macroeconomic factors will impact how compensation for finance talent progresses.
What is a good salary in New Hampshire?
New Hampshire offers competitive salaries for finance professionals compared to national averages. According to the latest data:
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The average salary for finance roles in NH is $62,888 per year or $30 per hour. This aligns with national medians.
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Those in the top 25% earn around $79,777 annually or $38 hourly. These likely have 5+ years experience or hold senior positions.
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Top earners in the 75th percentile make approximately $93,908 per year or $45 per hour. These professionals likely have specialized expertise in high demand fields.
Salaries can vary significantly depending on specific role, industry, location within the state, company size, experience level, and other factors. However, New Hampshire presents ample opportunities for finance professionals given its business-friendly tax policies, proximity to Boston, and presence of major corporations.
With competitive pay and a relatively low cost of living compared to other New England states, New Hampshire offers an attractive environment for advancing one's finance career. The state's business ecosystem also leads many fast-growing startups and established companies to seek out talented financial managers and analysts.
By developing specialized skills and certifications in fields like financial analysis, budget management, or accounting software, finance professionals can maximize their earning potential in New Hampshire. Continuing to gain additional years of hands-on experience will also open up senior-level positions with greater compensation.
What state pays Finance majors the most?
New York ranks as the top paying state for finance and accounting professionals, with an average salary of $117,000 per year. This is due to New York's position as a global financial hub and home to major financial institutions like the New York Stock Exchange, investment banks, hedge funds, and private equity firms.
The high demand for financial services and concentration of jobs allows New York to offer very competitive salaries to attract top talent. The state scored a 9.65 out of 10 on a recent "best states for finance careers" ranking.
Other factors that contribute to the high salaries include:
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Cost of Living: The New York metropolitan area has a very high cost of living, requiring higher salaries to compensate.
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Industry Concentration: With Wall Street and major banks headquartered in NYC, there is huge demand for finance professionals.
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Experience Requirements: Companies want expertise dealing with global markets, complex products, mergers & acquisitions, etc. They pay for specialized skills and knowledge.
In summary, New York offers the perfect mix of finance job availability, industry prestige, specialized career opportunities, and competitive salaries. The state's average $117k accounting and finance salary leads the nation.
What is the best Finance major salary?
When looking at the best salaries for finance majors, there are a few key roles that tend to pay the highest wages. According to the Bureau of Labor Statistics (BLS), some of the top-paying finance jobs include:
Financial Manager
- Salary: $131,710 per year
- Job Outlook: Expected to grow 17% over the next 10 years
Financial managers plan and direct accounting, investing, banking, insurance, and other financial activities for companies. With substantial salaries and strong job growth expected, this is one of the most lucrative careers for finance majors.
Financial Analyst
- Salary: $95,570 per year
- Job Outlook: Expected to grow 9% over the next 10 years
Financial analysts provide guidance to businesses and individuals making investment decisions. They assess the performance of stocks, bonds, and other investments, conducting quantitative analyses. With competitive salaries and steady job growth, financial analyst is another great option for finance graduates.
Project Management Specialist
- Salary: $95,400 per year
- Job Outlook: Expected to grow 7% over the next 10 years
Project management specialists oversee and coordinate projects in a variety of fields to ensure budgets, schedules, and performance goals are met. With versatile skills that apply across industries and favorable job prospects, this an appealing role for those with finance backgrounds.
Personal Financial Advisor
- Salary: $94,170 per year
- Job Outlook: Expected to grow 15% over the next 10 years
Personal financial advisors provide advice on investments, insurance, mortgages, college savings, estate planning, taxes, and retirement to help individuals manage their finances. With strong salary potential and job growth, this is a rewarding career path for finance majors interested in directly assisting people.
In summary, financial managers, financial analysts, project management specialists, and personal financial advisors are some of the highest paying roles for those with finance degrees. All offer median salaries of over $90,000 per year and have favorable job growth outlooks over the next decade.
How much do people in the Finance industry make?
The average salary for finance professionals in New Hampshire is $68,790 per year. This is slightly higher than the national average of $55,551 for those working in the finance industry.
Some key insights into New Hampshire finance salaries:
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The average salary tends to be higher in larger cities like Manchester and Nashua, where most corporate headquarters and large companies are located. Smaller rural areas may have lower average salaries.
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More experienced finance roles like Finance Managers and Directors have average salaries between $90,000 to $120,000 in New Hampshire. Entry-level roles like Financial Analysts tend to start around $50,000.
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Bonuses and profit-sharing can account for 10-20% extra compensation for finance professionals working at investment banks, private equity firms, and other finance companies. This is not as common with corporate finance roles.
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Finance salaries in New Hampshire tend to be lower than larger finance hubs like New York City or San Francisco, but the lower cost of living helps compensate for this.
So in summary, New Hampshire finance professionals make above national averages, with experienced manager and director roles earning six figure salaries. The finance job market appears strong for those looking to advance their careers and earning potential.
Dissecting Salary Data for Finance Professionals
This section provides detailed salary ranges for key finance roles like CFOs, financial analysts, controllers, etc. in New Hampshire companies.
Chief Financial Officer (CFO): Compensation & Benefits
The average base salary for a Chief Financial Officer (CFO) in New Hampshire is $203,000 per year. With bonuses and equity compensation, total pay can reach over $300,000 for CFOs at larger companies.
Typical CFO compensation packages include:
- Base salary: $180,000 - $230,000
- Annual bonus: Up to 50% of base pay
- Long-term incentives: Stock options or restricted stock units
- Retirement benefits: 401(k) matching up to 5% of pay
- Health insurance: Comprehensive medical, dental, and vision plans
CFOs may also receive perks like company cars, phone allowances, tuition reimbursement, and flexible work arrangements. The full pay package reflects the CFO's central strategic role and oversight of all financial operations.
Financial Analyst and Senior Financial Analyst Salaries
The average salary for a financial analyst in New Hampshire is $68,300 annually. With 5+ years of experience, senior financial analysts can earn over $90,000 per year.
Key factors impacting financial analyst salaries include:
- Industry - Analysts in banking, asset management, and tech earn 10-15% more than other sectors
- Firm size - Bigger companies provide higher compensation
- Credentials - CFA, CPA, and MBA holders get paid more
Bonus pay is common for analysts, especially in banking, where bonuses average 15-25% of base salary. Overall compensation is higher in the finance hub of Manchester compared to other New Hampshire metro areas.
The Pay Scale for Controllers and Assistant Finance Managers
Controllers and assistant finance managers in New Hampshire earn average salaries between $80,000-$110,000. This includes:
- Controller base pay: $95,000
- Assistant finance manager base: $72,000
Controllers oversee all accounting functions and financial reporting. Assistant finance managers support through tasks like payroll, budgeting, audits, and financial analysis.
Higher pay is correlated to controller certifications (CPA, CMA), advanced degrees (MBA), and working at larger companies with more accounting complexity to manage.
Overall, corporate finance salaries in New Hampshire and northern New England track national averages. Adjusted for lower cost of living, compensation goes further compared to other parts of the country.
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Influences on Finance Salaries within New Hampshire's Economy
We will explore the key economic, demographic, and regulatory factors that shape the earning potential of finance professionals in New Hampshire.
The Impact of Cost of Living in New Hampshire on Finance Salaries
New Hampshire has a higher cost of living compared to the national average, ranking #9 in the country. Key drivers include housing costs being 36% above average and healthcare costs being 13% higher. This elevated cost of living means that finance salaries need to be higher as well for professionals to maintain their standard of living. Finance managers in New Hampshire earn average salaries of $126,430, which is 13% above the national median. Entry-level financial analysts earn $55,170 to start, 5% more than other parts of the country. So the strong local economy and higher prices translate into better compensation in order to attract top talent.
Supply and Demand Dynamics in Financial Services
New Hampshire faces talent shortages in accounting, financial analysis, and other corporate finance roles. With an aging workforce nearing retirement and fewer college graduates pursuing these career paths, demand exceeds supply for trained professionals. This creates upward pressure on salaries and more bargaining power for those seeking finance jobs. The finance sector is also continuing to expand with New Hampshire's business growth, especially in technology, healthcare, and advanced manufacturing. So competition is high among employers to source this limited talent, often having to offer higher pay to attract applicants with the right skills and experience.
Regulatory Environment and Fiscal Management in New Hampshire
New Hampshire has a business-friendly tax structure including no personal income tax and no sales tax, which provides advantages for finance teams. The state also has less restrictive financial regulations compared to nearby states. This lighter regulatory touch reduces compliance costs and administrative work for finance departments. With simpler fiscal requirements and lower business taxes, finance managers can focus more on value-adding activities like data analysis, planning, and supporting executive decisions. Less red tape also creates a more innovative environment for fintech startups and corporate finance functions to flourish.
Navigating the Financial Management Career Path in New Hampshire
Assessing Finance Job Offers: A Guide to Pay Equity
When evaluating a job offer in the finance field in New Hampshire, it's important to assess whether the compensation package is fair and competitive. Here are some tips:
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Research salary data on sites like Glassdoor, PayScale, Salary.com to understand the market rate for your role, experience level and location. Finance salaries can vary greatly depending on the specific position and industry.
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Factor in the entire compensation package - not just base pay. Include bonuses, equity, retirement contributions, health insurance and other perks.
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Consider the cost of living in New Hampshire compared to other parts of the country. New Hampshire has a relatively high cost of living compared to the national average. Account for state taxes as well.
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Weigh qualities beyond just compensation like work-life balance, opportunities for advancement and corporate culture. Sometimes taking a lower salary can pay off long-term if there is greater career growth potential.
Attracting and Retaining Finance Talent: Compensation Strategies
For New Hampshire companies looking to recruit top financial talent, offering competitive pay is crucial. Some tips:
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Benchmark your compensation packages against industry standards and local salary ranges. Sites like Payscale and Salary.com provide location-specific salary data across roles.
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Structure bonuses and raises to reward strong performance. Outline clear metrics and growth trajectories to incentivize productivity.
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Consider non-monetary benefits like remote work options, professional development programs and flexible leave policies. These perks can give you an edge.
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Conduct regular compensation reviews and adjust salaries to market rates to prevent attrition. Finance professionals are likely to jump ship for higher paying opportunities.
Expanding the Search: Recruiting Financial Experts from Beyond New England
To source qualified finance candidates beyond just New England:
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Expand online job board postings nationally to increase applicant reach. Be open to remote or relocated candidates.
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Leverage professional networks and alumni databases to connect with potential candidates from top business and finance programs across the country.
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Highlight exciting company growth opportunities, culture and lifestyle perks to attract talent from different regions. Lead with your unique strengths.
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Offer relocation stipends or temporary housing to incentivize out-of-state candidates to consider roles in New Hampshire. Reduce barriers to entry.
Utilizing Financial Analysis Software and Accounting Tools
Financial analysis software and accounting tools play a major role in shaping finance salaries and career trajectories. As these technologies become more advanced and widespread, financial professionals must master them to boost their performance and remain competitive.
The Role of Accounting Software in Finance Departments
Accounting software has revolutionized financial operations in companies of all sizes. Cloud-based platforms like QuickBooks, Sage, and NetSuite automate tasks like invoicing, expense reporting, and reconciliation. This improves efficiency and allows finance teams to focus on high-value responsibilities like financial planning and analysis.
Proficiency with major accounting software is now an essential skillset for finance professionals. Those able to leverage these tools to streamline workflows and identify insights command higher salaries. In fact, financial analysts who use Excel and SQL earn $20,000 more on average than those without these skills.
As accounting software continues advancing, employers will prioritize candidates capable of optimizing these technologies. Mastering platforms like QuickBooks and NetSuite can pay dividends through larger salaries, bonuses, and quicker promotions.
Financial Analysis Software: A Salary Game-Changer
Financial analysis software like Bloomberg Terminal, Capital IQ, and FactSet provides access to market data, financial models, and quantitative analytics. These platforms are vital for functions like investment analysis, budget forecasting, and risk assessment.
Finance professionals who utilize financial analysis software provide more value through quick, data-backed recommendations. They can visualize trends, model scenarios, and optimize decisions. These skills enable faster career progression into high-paying roles like investment banking and corporate finance.
For example, business analysts who use Excel for financial modeling and data analysis earn $20,000 more on average. Financial analysts can boost their salaries by learning platforms like Tableau, Power BI, and SQL to surface insights.
The demand for financial analysts able to derive value from data will continue growing exponentially. Developing expertise in financial analysis software can propel salaries over $100K and beyond.
Leadership Roles in Finance: Salary Insights
Finance Director: Mastering Corporate Finance
Finance Directors in New Hampshire earn an average salary of $152,000 per year. As head of the finance department, they oversee financial planning and analysis, cash flow management, financial reporting, budgeting, payroll, taxes, and more. Key responsibilities include:
- Developing financial strategy aligned with company goals
- Managing teams of financial analysts and managers
- Overseeing preparation and reporting of financial statements
- Leading budgeting processes and financial modeling
- Assessing business risks and opportunities
- Ensuring legal/regulatory compliance
Success as a Finance Director requires sharp analytical abilities, leadership skills, communication expertise, and intricate knowledge of corporate finance best practices. Advanced education credentials like an MBA or CPA certification are often required.
Senior Manager Finance Operation: Salary and Scope
The average salary for a Senior Manager in Finance Operations in New Hampshire is approximately $135,000 per year. Their core responsibilities include:
- Managing daily financial activities and teams
- Preparing financial reports and presentations
- Conducting complex analyses to inform executive decisions
- Ensuring accuracy of financial data
- Identifying process improvements
- Leading special projects and initiatives
Senior Finance Managers leverage 5-10 years of experience to master technical finance skills and leadership abilities. Strong strategic thinking, data analytics, and communication skills are essential.
Vice President Finance: Executive Pay Equity and Expectations
Vice Presidents of Finance in New Hampshire earn around $195,000 in annual compensation. As strategic leaders, they are accountable for:
- Overseeing all financial matters as a senior executive
- Directing long-term fiscal strategy and planning
- Fostering relationships with investors and financial partners
- Guiding major corporate finance initiatives
- Managing executive-level accounting and finance staff
The role demands 10+ years of progressive finance experience, leadership presence, analytical mastery, and strategic vision. Vice Presidents of Finance operate as pivotal decision-makers guiding organizational success.
Advisory Roles and Their Impact on Finance Salaries
Financial Advisor: Balancing Client Needs with Compensation
Financial advisors in New Hampshire help clients manage their finances and investments. They are compensated in various ways, such as through fees based on assets under management, hourly rates, fixed fees, and commissions.
Advisors must balance their clients' needs with reasonable compensation. Building long-term relationships and providing sound financial advice is more important than high fees. Advisors who do this tend to retain clients longer and grow their business through referrals.
According to salary data, the average annual pay for a financial advisor in New Hampshire is $108,030. Compensation often correlates with experience level, qualifications, client asset levels, and firm size.
Director of Finance: Steering Fiscal Strategy and Salary
The Director of Finance is a senior management role overseeing the financial operations of an organization. Key duties include financial planning and analysis, cash flow management, budgeting, financial reporting, and more.
In this strategic role, the Director of Finance guides financial decisions to drive business growth and sustainability. Strong leadership ability and communication skills are essential to coordinate cross-functional teams.
With significant responsibilities and specialized expertise, New Hampshire Directors of Finance earn an average salary of $163,010 per year. Those working for major corporations or with advanced certifications tend to sit at the higher end of the pay scale.
Budget Management and Its Effect on Salaries
Budget Managers play a critical role in overseeing an organization's finances and guiding strategic decisions around spending. In New Hampshire, these financial gatekeepers earn competitive salaries given their high-level responsibilities.
Budget Manager: A Financial Gatekeeper's Earnings
The average salary for a Budget Manager in New Hampshire is $108,000 per year, which is 13% higher than the national average. With substantial experience and additional certifications, salaries can reach $150,000 annually.
Budget Managers have a wide range of duties focused on developing financial plans and managing organizational spending. Key responsibilities include:
- Analyzing past budgets and spending to inform future plans
- Forecasting upcoming budget needs based on the organization's goals
- Allocating resources across departments and programs
- Tracking budget vs. actual spending and making adjustments
- Reporting budget status to executives and stakeholders
- Ensuring spending aligns with budget and policies
To succeed as a Budget Manager, certain skills and qualifications are required:
- Bachelor's degree in business, finance or accounting
- 5+ years overseeing complex budgets
- Sharp analytical abilities and attention to detail
- Advanced knowledge of accounting and financial software
- Strong communication and presentation aptitude
The high compensation for Budget Managers correlates directly with the position's high stakes. Their expertise in balancing budgets and guiding spending decisions has a major influence on organizational performance and stability. As financial gatekeepers, Budget Managers in New Hampshire earn salaries on par with the critical role they play.
Conclusion: Synthesizing New Hampshire's Finance Salary Insights
Recap of Finance Salaries and Trends in New Hampshire
Finance salaries in New Hampshire tend to be higher than national averages. According to the Bureau of Labor Statistics, the average annual salary for a financial manager in New Hampshire is $146,250 compared to the national average of $134,180. The finance job market is also quite robust in the state.
Some key trends we've seen in New Hampshire finance salaries include:
- Strong demand and competitive salaries for corporate finance roles. The average salary for a Corporate Finance Manager is $158,270 in NH.
- Growing need for financial analysts and advisors as more companies expand operations or relocate to the state. The average Financial Analyst salary is $89,010.
- Shortage of qualified accounting and finance talent, driving salaries up for roles like Accounting Managers ($113,900 avg) and Financial Controllers ($149,300 avg).
So overall, New Hampshire presents a very attractive job market for finance professionals looking to advance their careers and earning potential.
Future Outlook for New Hampshire's Finance Sector
As New Hampshire continues attracting new businesses and corporate expansions, we expect strong continued demand for financial expertise. However, the talent shortage could worsen without more young professionals entering the accounting and finance field within the state.
Some developments to watch for include:
- Ongoing salary growth for finance roles but especially in corporate finance, FP&A, accounting, and financial analysis.
- More remote/hybrid finance job opportunities as companies embrace location flexibility. This will expand the talent pool.
- Potential office expansions from major banks and financial services firms bringing new high-paying finance jobs.
In summary, the future looks bright for finance salaries in New Hampshire thanks to a robust state economy hungry for financial talent. Those working in or looking to enter the field can expect exciting opportunities and earning potential in the coming years.
